Athletes and Wealth Management

7 Pages 1683 Words

Athletes and Financial Investment Firms
The Growing Concern for Long-term Financial Stability

I. Introduction

The goal for a large majority of individuals in today’s society is to achieve maximum financial stability in the shortest period of time possible. However, most do not achieve this goal as expeditiously as they once had hoped. It is for this reason that a majority of individuals view their success in relation to what one obtains in the form of both material goods and financial acquisitions. Does the acquisition of material goods or financial gains insure financial stability? Is there peace of mind for an individual once these goals of procurement are achieved? Is there anyway to insure financial peace of mind? The simple answer would be to become a professional athlete, to win the lottery, or marry into Bill Gate’s family. However, these are all long shots for a majority of the world. But even these do not guarantee long-term financial stability. That is why it is becoming increasingly important to possess a high level of competency in the area of wealth management.

What exactly is wealth management? Wealth management is the proficient administration of one’s total assets through financial planning and accurately allocating wealth to achieve a financial goal. Financial planning integrates the execution of various financial services, which promote growth, and stability of an investor’s wealth. Planning is differentiated according to the specific needs and focus of individuals. A high-net-worth individual would bear distinct goals that differentiate from that of a small-time investor. Albeit that these investors may have unique objectives, the necessity for a competent provider of such financial services is evident. The world of finance is unpredictable and continuously shifting. Investors find themselves overwhelmed by intimidation caused by the perception that investment firms are bottom-line or...